In this data exploration we will use the diamond data provided by ggplot 2 to explore how Price is effected by it’s various features:

Diamond Data Summary

##      carat               cut        color        clarity     
##  Min.   :0.2000   Fair     : 1610   D: 6775   SI1    :13065  
##  1st Qu.:0.4000   Good     : 4906   E: 9797   VS2    :12258  
##  Median :0.7000   Very Good:12082   F: 9542   SI2    : 9194  
##  Mean   :0.7979   Premium  :13791   G:11292   VS1    : 8171  
##  3rd Qu.:1.0400   Ideal    :21551   H: 8304   VVS2   : 5066  
##  Max.   :5.0100                     I: 5422   VVS1   : 3655  
##                                     J: 2808   (Other): 2531  
##      depth           table           price             x         
##  Min.   :43.00   Min.   :43.00   Min.   :  326   Min.   : 0.000  
##  1st Qu.:61.00   1st Qu.:56.00   1st Qu.:  950   1st Qu.: 4.710  
##  Median :61.80   Median :57.00   Median : 2401   Median : 5.700  
##  Mean   :61.75   Mean   :57.46   Mean   : 3933   Mean   : 5.731  
##  3rd Qu.:62.50   3rd Qu.:59.00   3rd Qu.: 5324   3rd Qu.: 6.540  
##  Max.   :79.00   Max.   :95.00   Max.   :18823   Max.   :10.740  
##                                                                  
##        y                z         
##  Min.   : 0.000   Min.   : 0.000  
##  1st Qu.: 4.720   1st Qu.: 2.910  
##  Median : 5.710   Median : 3.530  
##  Mean   : 5.735   Mean   : 3.539  
##  3rd Qu.: 6.540   3rd Qu.: 4.040  
##  Max.   :58.900   Max.   :31.800  
## 

Price Exploration

##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     326     950    2401    3933    5324   18823

Price by Cut Exploration

## diamonds$cut: Fair
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     337    2050    3282    4359    5206   18574 
## -------------------------------------------------------- 
## diamonds$cut: Good
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     327    1145    3050    3929    5028   18788 
## -------------------------------------------------------- 
## diamonds$cut: Very Good
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     336     912    2648    3982    5373   18818 
## -------------------------------------------------------- 
## diamonds$cut: Premium
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     326    1046    3185    4584    6296   18823 
## -------------------------------------------------------- 
## diamonds$cut: Ideal
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     326     878    1810    3458    4678   18806

Price By Carat Exploration

##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##    1051    2478    3495    4008    4950   17829

Price By Color Exploration

## diamonds$color: D
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     357     911    1838    3170    4214   18693 
## -------------------------------------------------------- 
## diamonds$color: E
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     326     882    1739    3077    4003   18731 
## -------------------------------------------------------- 
## diamonds$color: F
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     342     982    2344    3725    4868   18791 
## -------------------------------------------------------- 
## diamonds$color: G
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     354     931    2242    3999    6048   18818 
## -------------------------------------------------------- 
## diamonds$color: H
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     337     984    3460    4487    5980   18803 
## -------------------------------------------------------- 
## diamonds$color: I
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     334    1120    3730    5092    7202   18823 
## -------------------------------------------------------- 
## diamonds$color: J
##    Min. 1st Qu.  Median    Mean 3rd Qu.    Max. 
##     335    1860    4234    5324    7695   18710

Price By Clarity Exploration

Price By X, Y, Z Exploration

## 
##  Pearson's product-moment correlation
## 
## data:  price and x
## t = 440.16, df = 53938, p-value < 2.2e-16
## alternative hypothesis: true correlation is not equal to 0
## 95 percent confidence interval:
##  0.8825835 0.8862594
## sample estimates:
##       cor 
## 0.8844352
## 
##  Pearson's product-moment correlation
## 
## data:  price and y
## t = 401.14, df = 53938, p-value < 2.2e-16
## alternative hypothesis: true correlation is not equal to 0
## 95 percent confidence interval:
##  0.8632867 0.8675241
## sample estimates:
##       cor 
## 0.8654209
## 
##  Pearson's product-moment correlation
## 
## data:  price and z
## t = 393.6, df = 53938, p-value < 2.2e-16
## alternative hypothesis: true correlation is not equal to 0
## 95 percent confidence interval:
##  0.8590541 0.8634131
## sample estimates:
##       cor 
## 0.8612494

Correlation - Price Vs. Volume

## 
##  Pearson's product-moment correlation
## 
## data:  volume_df$price and volume_df$volume
## t = 485.41, df = 53930, p-value < 2.2e-16
## alternative hypothesis: true correlation is not equal to 0
## 95 percent confidence interval:
##  0.9004947 0.9036387
## sample estimates:
##       cor 
## 0.9020786

Price By Depth Exploration

## 
##  Pearson's product-moment correlation
## 
## data:  price and depth
## t = -2.473, df = 53938, p-value = 0.0134
## alternative hypothesis: true correlation is not equal to 0
## 95 percent confidence interval:
##  -0.019084756 -0.002208537
## sample estimates:
##        cor 
## -0.0106474

Price by Table Exploration